Srt Marine Sys. Regulatory News (SRT)

15 Dec 2005 07:00

SOFTWARE RADIO TECHNOLOGY plc Heads of agreement signed with two prospective customers for AIS Class B technology The Directors of Software Radio Technology plc ("SRT") are pleased to announcethat SRT has signed heads of agreement with Xanatos Marine Ltd ("Xanatos"), aVancouver-based marine systems integrator specialising in AIS coastalsurveillance systems and Comar Systems Limited ("Comar"), a UK-basedmanufacturer of AIS products.Both companies are working on specific projects for which SRT's AIS technologywill provide the key enabling element. The heads of agreement pave the way forcloser co-operation and the finalising of formal contracts during the firstquarter of 2006. The Directors believe the agreements could generate over US$2million in revenues for SRT during 2006.Xanatos AgreementSRT's technology will be used within a project currently being tendered for byXanatos, providing surveillance of up to 7,000 vessels in the Americas as partof a comprehensive regional coastal homeland security project. Further projectsare also being considered.President of Xanatos, Bill English said, "SRT's AIS product was exactly what wehad been looking for in order to complete the system requirements for thisproject. The attraction to us in working with SRT is their expertise in AIStechnologies and the highly competitive cost of their product."Comar AgreementComar is an established manufacturer and distributor of AIS transponders.Comar's products are sold through a network of distributors and dealers and foruse in `national level' projects. SRT's AIS Class B technology will enableComar to develop a competitively priced AIS Class B product for sale into theworldwide market.Managing Director of Comar, Peter Cotton said, "Comar has been a pioneer in thedevelopment of the AIS market, particularly for non-Solas vessels. We seemassive worldwide growth in this market as governments, vessel owners and usersrespond to security and safety concerns. Our AIS Class B product which will bebased upon SRT's technology should enable us to secure a strong position inthis market."SRT's Commercial Director, Simon Tucker said, "These agreements demonstrateSRT's lead in AIS technology following an intensive period of investment todevelop the technology solutions. We believe that the global AIS market has thepotential to be substantial and the strong response to the recent launch of ourAIS Class B technology provides evidence that this will be the case."Software Radio Technology plc 01761 409500 Simon Tucker simon.tucker@softwarerad.com Shamus Kelly shamus.kelly@softwarerad.com Westhouse Securities LLP 0161 838 9140 Tim Feather tim.feather@westhousesecurities.com The Communication Group 020 7630 1411 Richard Evans revans@thecommunicationgroup.co.ukNotes for EditorsAbout SRTSRT is a developer and licensor of digital wireless technology referencedesigns that facilitate the manufacture of sophisticated digital communicationsand tracking/surveillance products for use within the professional homelandsecurity market worldwide.SRT currently licenses technology solutions for TETRA handsets and automaticidentification systems (AIS) for ships and boats.SRT was admitted to AIM on 2 November 2005 in conjunction with a placing whichraised approximately ‚£4 million at 35p per share.About ComarBased in the UK, Comar is a privately owned company that specialises in theprovision of AIS products.About XanatosBased in Vancouver, Canada, Xanatos Holdings is a privately owned company thatspecialises in the provision of AIS integration system solutions.ENDSOFTWARE RADIO TECHNOLOGY PLC